Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[Nagadota]

Thanks for the detailed explanation. One more question.

If you have multiple hardware wallets with the same seed, do they all update when you perform a transaction on one of them?

Or if you have multiple copies of the seed, do the transactions travel with the seed in case your original hardware is destroyed  and you have to rebuild on new hardware with the same seed??

First question: Yes, of course. It's basically the same as if you have your software wallet in multiple computers.

Second question I don't understand it well. If you want to have access to the same addresses you had you need to rebuild another device or a software wallet with the same BIP39 seed. Also, you can configure the device with a different seed if you want. And there's much more to it.... you can establish a passphrase (besides the regular pin) that depending on which one you enter it will access a different set of addresses (as if it had a different seed... plausible deniability, etc...)

Really, just buy one, it's a good thing.

Thanks again. I guess I'll have to read up on BIP39.

As long as I don't have to trust any hardware manufacturer and (or anyone else besides the Bitcoin network) and my coins are secure in the case of hardware loss, I'm all for it.

You're convinced me enough to buy one (or two) just to use as a landing place when I break one of my older multi-coin paper wallets to reassign the coins. That will give me a chance to experiment with worst-case scenarios after I've drained it of all but a few satoshis.

As you said, the cost of a Trezor is negligible compared to the coins it holds at today's prices.

You might also like to know that they (Trezor, at least) can:
1) store passwords for your web site/email/etc authentications
2) generate secure passwords for the above so you no longer need to try to remember lots of slightly different passwords for those sites
3) act as a u2f 2 factor identification device (so you don't lose access if your 2fa device is lost - unlike otp 2fa like google authenticator).

AND ... all of the above is restored whenever you initialize a new device with the seed.

The security that a TREZOR provides is absolutely priceless.  The Chrome extension makes it just as convenient as an online wallet when you plug it in but it's ideal for security and comes with two seed cards as well.

They're even safe from five-dollar wrench attacks unless the person who attacks you knows your exact balance - you can set multiple additional passphrases leading to different amounts of Bitcoin so that you give away a small amount of decoy Bitcoin when asked.

Check out the security threats page.

[gembitz]

Days are getting crazier. Just got back from a hike, glad to be a HODLer, not a folder

But looking at this, I seriously feel a correction is due now. Is FOMO rocket fuel really this strong? Is the entire sentiment going to shift into "BTC is the next BIG thing", accompanied by the masses pouring garbage green paper into crypto gold? My average Joe indicators are going off now. What will Gavin Belson think of all this, and is he all in on ETH?

Tune in next week!!BTCBTC

BTCBTCBTC $2000 tipping point now chinese miners/cartel MUST cover their short!!

[Iranus]

Days are getting crazier. Just got back from a hike, glad to be a HODLer, not a folder

But looking at this, I seriously feel a correction is due now. Is FOMO rocket fuel really this strong? Is the entire sentiment going to shift into "BTC is the next BIG thing", accompanied by the masses pouring garbage green paper into crypto gold?

No, not yet.

If you look at the Google search trends, which are one of the best indicators we have of hype right now, you'll realise that actually the interest in Bitcoin was dramatically higher in 2013 than today (at least 50% more and nearly double in some parts).  

What that probably means is that institutional investors are getting involved as well as people with high amounts of savings.  Possibly that could mean that they expect the price to go up a lot more, which is a good sign.  It could also mean that this is a bubble, but that seems unlikely since there are reasons for rising adoption in various countries.

[Denker]

Before I type what I am going to type I'd just like to mention I hodl and don't sell and I am pretty stubborn with this. I have no desire to see bitcoin drop in price at all and that won't benefit me in the slightest.

On this note I'd like to say when people talk about $10k, $100k per coin etc I worry and expect a big correction. I am sorry for saying this but we all know it can happen at anytime and it's more than likely coming soon when we least expect it.

Anyway, please continue upwards bitcoin and keep us all happy little hodlers! This is the most fun I've had in nearly 4 years being involved in this.

Yeah I know what you mean. "Be greedy when others are fearful and be fearful when others are greedy" fits here in a way.
However I think Bitcoin is performing really good at the moment and the rise may look steep but is long overdue. This is upwards correction imo! Remember Metcalfe's Law and Bitcoin?

[Samadur]

Before I type what I am going to type I'd just like to mention I hodl and don't sell and I am pretty stubborn with this. I have no desire to see bitcoin drop in price at all and that won't benefit me in the slightest.

On this note I'd like to say when people talk about $10k, $100k per coin etc I worry and expect a big correction. I am sorry for saying this but we all know it can happen at anytime and it's more than likely coming soon when we least expect it.

Anyway, please continue upwards bitcoin and keep us all happy little hodlers! This is the most fun I've had in nearly 4 years being involved in this.

Yeah I know what you mean. "Be greedy when others are fearful and be fearful when others are greedy" fits here in a way.
However I think Bitcoin is performing really good at the moment and the rise may look steep but is long overdue. This is upwards correction imo! Remember Metcalfe's Law and Bitcoin?

Definitely we can say that we can only wait for the price increase and nothing to be afraid of. What Well and do not stand up because of the swing of the exchange You can not write off on greed.

[Searing]

With 100 btc and 1836 btc this is getting serious.

Don't even get me started on my ltc mining and $29 buck ltc

Scary and fun as hell at the same time

[bitserve]

Buy the fucking dip!

[leowonderful]

With 100 btc and 1836 btc this is getting serious.

Don't even get me started on my ltc mining and $29 buck ltc

Scary and fun as hell at the same time

Hey, at least you're making something. I stopped mining large scale and started HODLing full time a while ago and I've been doing better HODLing than mining. Any coins I mine are usually ETH or Zcash and go right back to BTC. If you exchange coins back to BTC after mining you're golden.

[podyx]

What the fuck is it now???

[2017Bubble]

Der dump many wow

 

[savetherainforest]

or get in the alt coin car!



your choice.

Best interpretation of what is happening...


or get in the alt coin car!


There... FTFY!!!   

[BlindMayorBitcorn]

The tide is turning, everybody back in shit coins!

J/k

sort of..

[gentlemand]

I thought the idea was the higher the number, the milder the dumps? It doesn't seem to be making the slightest difference percentage wise. Still, I don't really care. As long as it stays above $666 I'll be content enough.

[rjclarke2000]

well there is a fucking shock.

Bitcoin cycle never fails.

[2017Bubble]

Already back up lol

[podyx]

Well, looks like just a small normal retrace. There's gonna be plenty of them, but gotta watch out for any big ones.

[becoin]

I was expecting a dip but this one is too shallow. C'mon I need something more meaningful!

[bitserve]

Buy the fucking dip!

Told ya.

[lightfoot]

With 100 btc and 1836 btc this is getting serious.

Don't even get me started on my ltc mining and $29 buck ltc

Scary and fun as hell at the same time

I thought you sold all your LTC when you got it? :-)

It is, however insane. Fun insane.

[JimboToronto]

Oh no. My bitcoins are only worth what thy were worth yesterday earlier today.